Viper Energy, Inc. (NASDAQ:VNOM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Viper Energy, Inc. (NASDAQ:VNOM) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,857,548 shares of the oil and gas producer’s stock after selling 8,074 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.05% of Viper Energy worth $69,714,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. ORG Partners LLC grew its position in shares of Viper Energy by 962.3% in the second quarter. ORG Partners LLC now owns 2,815 shares of the oil and gas producer’s stock valued at $107,000 after purchasing an additional 2,550 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Viper Energy by 94.4% in the first quarter. Larson Financial Group LLC now owns 4,158 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 2,019 shares during the last quarter. Sandia Investment Management LP acquired a new stake in shares of Viper Energy in the first quarter valued at approximately $192,000. Diversify Advisory Services LLC acquired a new stake in shares of Viper Energy in the second quarter valued at approximately $203,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Viper Energy in the first quarter valued at approximately $232,000. 87.72% of the stock is currently owned by institutional investors and hedge funds.

Viper Energy Stock Performance

NASDAQ:VNOM opened at $48.26 on Friday. The company has a quick ratio of 7.06, a current ratio of 7.06 and a debt-to-equity ratio of 0.35. The company has a market cap of $8.53 billion, a P/E ratio of 17.74 and a beta of 1.74. Viper Energy, Inc. has a fifty-two week low of $26.73 and a fifty-two week high of $48.72. The firm’s 50 day moving average is $42.45 and its two-hundred day moving average is $39.12.

Viper Energy (NASDAQ:VNOM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. Viper Energy had a net margin of 25.63% and a return on equity of 8.46%. The business had revenue of $216.71 million for the quarter, compared to the consensus estimate of $216.28 million. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up 34.8% compared to the same quarter last year. Analysts expect that Viper Energy, Inc. will post 2.08 EPS for the current year.

Viper Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, August 15th. Viper Energy’s dividend payout ratio is presently 44.12%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Viper Energy from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price objective on shares of Viper Energy from $44.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. TD Securities upped their price objective on shares of Viper Energy from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on shares of Viper Energy from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Evercore ISI upped their price objective on shares of Viper Energy from $37.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Viper Energy presently has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Viper Energy Company Profile

Viper Energy, Inc owns and acquires mineral and royalty interests in oil and natural gas properties in the Permian Basin, North America. Viper Energy Partners GP LLC operates as the general partner of the company. The company was formerly known as Viper Energy Partners LP and changed its name to Viper Energy, Inc in November 2023.